Attracting and Retaining Talented Employees with BR+E
We often see BR+E as being about businesses first and foremost. For example, we want to know when a lease expires, or when a local business is ready to grow into a bigger facility. But we don’t always think about how BR+E can also be used to attract and retain new talent.When we invest time and money in the businesses in our region, those businesses are more likely to succeed. With better strategies based on more dependable data, it is easier to help those businesses contribute to economic growth.
In turn, it will be easier to retain new talent if that talent sees that the region is taking care of its businesses by creating stable places in which they can work. This is an example of how BR+E is like a web - an ecosystem - that connects many aspects of economic development. Help faltering businesses succeed, and the whole region can be built up.
Attracting and Retaining Talented Employees: The First Steps
With Triage BR+E™, MDB Insight flags which of your region’s businesses need workers now, so you can put a plan into place to help those businesses out as soon as possible. Data about the health of a local business helps you from a workforce perspective; the data can give you insight into the kind of talent that local businesses want but is missing from the current employment pool.
When Triage BR+E tells you that a business is struggling, and you discover the business is struggling because it’s having trouble attracting and retaining talented employees (e.g. the job market in Southwestern Ontario), it could be a sign that you need to look for international talent in new Canadians.
Once you’ve used Triage BR+E to identify a problem local businesses are having, you can use Vicinity Jobs’ Labour Supply and Demand ReportsTM to get more specific data on the job openings in your region and the workers applying to fill them. This can help inform your workforce attraction and retention needs and help you see where workers who are newcomers would be the most help.
Upon discovering where new Canadians could best contribute, you can work on preparing your region to be a more welcoming place for people settling into their new home, or develop optimal ways to attract new Canadian talent. MDB Insight’s platforms can help give you a better picture of what is preventing new talent from joining the local workforce, or why they don’t want to stay, so you can develop strategies to create appealing working conditions for new Canadians.